Bunge to invest $2.5B to increase Brazilian cane capacity by 9 million tonnes

In Brazil, Bunge announced at a press conference in Sao Paulo that the company will invest up to $2.5 million by 2016 to increase its sugarcane crushing capacity at eight existing mills from 21 million tons to 30 million tons, and may be expanded at a later date to 40 million tons. The company ruled out for the time being any green field construction of new mills as economically unfeasible.

Company spokesman referred to their bioenergy and sugar business as a “priority” and said that they expect the business to grow by 8-10 percent per year over the next five years. The company said it is spending $350M this year, primarily on expanding cane field capacity and replanting.